Insider Selling: ACM Research, Inc. (NASDAQ:ACMR) Insider Sells 70,000 Shares of Stock

ACM Research, Inc. (NASDAQ:ACMR) insider David H. Wang sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $23.60, for a total transaction of $1,652,000.00. Following the transaction, the insider now owns 672,708 shares of the company’s stock, valued at approximately $15,875,908.80. This trade represents a 9.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ACM Research Stock Performance

Shares of ACMR opened at $22.41 on Friday. ACM Research, Inc. has a one year low of $13.87 and a one year high of $30.64. The company has a 50-day moving average of $22.08 and a two-hundred day moving average of $20.52. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 16.98 and a beta of 1.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ACMR. JPMorgan Chase & Co. began coverage on shares of ACM Research in a report on Friday, February 28th. They issued an “overweight” rating and a $36.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of ACM Research in a report on Thursday, February 27th. Finally, Craig Hallum upgraded shares of ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Institutional Trading of ACM Research

A number of hedge funds have recently made changes to their positions in ACMR. Kerrisdale Advisers LLC lifted its position in shares of ACM Research by 550.8% in the fourth quarter. Kerrisdale Advisers LLC now owns 1,948,003 shares of the specialty retailer’s stock worth $29,415,000 after purchasing an additional 1,648,685 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of ACM Research by 2,258.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,469,271 shares of the specialty retailer’s stock worth $22,171,000 after purchasing an additional 1,406,968 shares in the last quarter. Panview Capital Ltd purchased a new stake in shares of ACM Research in the fourth quarter worth approximately $20,758,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ACM Research by 1,418.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,174,720 shares of the specialty retailer’s stock worth $17,738,000 after purchasing an additional 1,097,358 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of ACM Research by 12,871.6% in the first quarter. Federated Hermes Inc. now owns 1,072,752 shares of the specialty retailer’s stock worth $25,038,000 after purchasing an additional 1,064,482 shares in the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

About ACM Research

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.